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1st AMA with Alpha Batem (about OpenWorld)
At 1 PM UTC on 13th May 2022, OpenWorld was hosted at https://t.me/alphabatem by Alpha Batem in the 1st AMA between us. Alpha Batem is an interesting Metaverse project with big community. In this AMA, you will get sneak peek about what’s going on with OpenWorld project, what we aim at in near future. Let’s get started!
Ms. Weronika | Alpha Batem: AMA will start shortly. Muting the chat in 3 minutes!
The chat is now muted, which means everyone except admins is restricted from writing in the chat, so please do not panic!
Welcome to the community AMA with Thong Nguyen - Partnership Lead at OpenWorld!
Firstly, let us introduce to you an outline of the AMA.
There will be 3 main parts of today's AMA.
Part 1: 5 general questions to Thong Nguyen to introduce Open World.
Part 2: Thong will pick 3 questions from the Twitter community and answer them here.
Part 3: Community will be given an opportunity to ask questions, and Thong will pick 2 of them and answer them live here.
Written AMA recap will be provided soon, and it will be published on our Medium https://medium.com/@AlphaBatem.
That way, we'll ensure that everyone has equal access to all the important answers.
Mr. TranDzung | OpenWorld: Hi everyone, nice to meet you here! Thanks for the introduction . I am ready
Ms. Weronika | Alpha Batem: A big welcome to Thong Nguyen, Partnership Lead at OpenWorld! Thank you for being with us!
Mr. TranDzung | OpenWorld: Glad to be here today !
Ms. Weronika | Alpha Batem: I’ll start with 5 introductory questions.
Can you please introduce yourself and your team to our community?
Mr. TranDzung | OpenWorld: Thanks for the question. To be clear, when I finish an answer I will use ✅
My name is Thong Nguyen, Partnership Lead of OpenWorld project.
I am crypto enthusiasts and have been in crypto market since 2016 so I have witnessed at least two bull and bear cycles. In crypto market, you should be witness of one full cycle (bull – bear) at least in order to fully understand how it moves. That is about 4 years minimally.
The OpenWorld project is a Metaverse project but I would like to call it as a digital world with a sound circular economy based on real monetary flow.
OpenWorld envisions to open a new dimension for everyone to connect, play, express themselves, and find happiness.
The team now has about 20 members in a group of diverse and complemented backgrounds: coding, venture capital, digital media, and business operation.
We just grow our team from just a handful of pirate bandit part-time freelance members of 5–6 people to a full fleet ready-to-fight working 24/7 in just the past 2 months. That shows how fast we are growing behind the scene right now.
The core team knows each other personally and have worked together for 10+ years over various ups and downs in multinational firms as well as high growth startups across Vietnam, Singapore, and the US.
I pick out a slide about our team in our pitch deck here for the community to see:
We treat community members as team in a broader sense as well. We're all on this ship together.
Recently our team welcome Long Pham. He joins OpenWorld team as our Chief Growth Officer. You can find out more information about him via
His participation will help OpenWorld project a lot in next few months.
Ms. Weronika | Alpha Batem: Thank you for your comprehensive answer
Can you please briefly tell us more about your project (OpenWorld) ?
Mr. TranDzung | OpenWorld: Thanks for the question. Let me go through it
We have been very much into DeFi technology in 2020 and the first half of 2021
In mid of 2021, realizing the implications that NFTs can revolutionize gaming into a field where gamers can play and make a living from their investments and efforts, we developed our game, CryptoWar $xBlade which works fine - now it is OpenWorld after the rebrand.
If you take a look at GameFi projects, you will see how $OPEN (formerly $xBlade) hold its price very well. It is because we have solid idea behind our GameFi financial model. Even so, the instinct mechanic of GameFi is unsustainable and can not be fixed.
Consequently, our team recognized its vital weaknesses and decide to switch our project to Metaverse. We would prefer to call it as a digital world rather than a too broad term like Metaverse.
Metaverse is a trend but it is too broad and when you say it, maybe lots of people don't understand what it is and what you want to do.
The token smart contract address is the same, only token name & ticker changed and so far we already successfully updated information on both Coinmarketcap and Coingecko. More important, OpenWorld $OPEN has been verified its marketcap which make our project is one of miniority crypto projects have marketcap verified.
Even though we started building the project as a GameFi (with already built-up P2E and PvP feature) on BSC, we want to upgrade our project into building a synthetic digital world that mainly base on Harmony as our main chain, and then spread out multi-chain from there.
You can check the information about OpenWorld in Harmony forum
Our digital world will have all current DeFi features buildable in the market: Single-Asset Staking, LP Staking. GameFi features P2E, PvP (already proved capability with our current mini-game CryptoWar xBlade), and many more metaverse features in the long run: Avatar, Avatar customization, circular economy, digital value creation, social networking inside synthetic world, etc.
This is a big picture view about how we see our project:
Ms. Weronika | Alpha Batem: Sounds great!
So, in terms of technology and finance, what will help OpenWorld differentiate from GameFi projects and be a sustainable, healthy one?
Mr. TranDzung | OpenWorld: I like this question a lot. Thanks
Basically, let’s look at the main reasons why the branch industry GameFi fails.
It is because they don’t have a healthy economy in game, in their ecosystem. Even Axie Infinity is on the verge of collapse even without the recent $600M hack.
The growth of GameFi economy based on how they can attract new gamers and how much their gamers, speculators readily to spend money. Mostly, what they need is money from the game, they just want to earn. So when the main reasons why they kick off disappears, they leave the game, and the momentum of growth can’t maintain, the whole economy in-game will collapse and unstoppable.
Our solution is to build up the OpenWorld digital world with 3 main pillars:
Finance: Balanced circular economy
Digital experience: Entertained and value-created digital interactions
Art: Beautiful and distinct design from visual to sound.
From technological side, we are doing our best to capture those 2 critical development in the industry.
(1) Currently we build our digital world 100% on-chain, so it’s completely transparent and secure. In the future, we will develop on-chain/off-chain structure with our game to so that we can expand our game into more complex functionalities
(2) Initially, our token is on Binance Smart Chain but we are switching to Harmony $ONE. Soon we will partially burn our token on Binance Smart Chain and bridge the same amount to Harmony.
Just recently, our team change ownership to a multi-sign wallet 🚨
Read more there
It means no individual person can mint $OPEN from the air. It must be approved by a committee.
You should know that our project already granted $50,000 by Harmony and it’s just the beginning.
Our ambitious plan is to build up a strong project which will play as an important one in Harmony ecosystem. They need to diversify their ecosystem and we need a good chain to deploy our project on. It’s a win-win cooperation!
From the financial side, we think that what make OpenWorld different is we try to build a balanced circular economy in various aspects:
The world itself should both create enjoyment for players to play and provide them an opportunity to make money.
Ms. Weronika | Alpha Batem: Awesome!
Could you please tell us about goals you want to achieve in this year?
Mr. TranDzung | OpenWorld: Yeah let me go through this question.
Let’s look at 2 parts:
(1) what we’ve achieve with our mini-game CryptoWar;
(2) our Roadmap for OpenWorld.
(1) With Mini-game CryptoWar:
We have lots of game transactions, trading and big, active communities from global to local
We have PvE to PvP but we want to build something better.-
It’s why we will stop this mini-game on 6th June 2022
NFTs from the mini-game will be converted to OpenWorld NFTs.
Please check the roadmap there, phase 2:
Above is our Roadmap for phase 2.
A general roadmap is as follows
Sneak peek on what's going on recently
Map of the digital world has been completed
Technopocence is a centre city of OpenWorld
The internal demo of OpenWorld Prototype was done last week. We are finalizing it before the MVP launch in June, scheduled on 6th June.
We officially granted $50,000 by Harmony $ONE
We are in a $500,000 Seed Fund-raising
A bridge from BSC to Harmony is done
We have Weekly Video Series for followers, with which you can get information about what's going on
Ms. Weronika | Alpha Batem: Thank you for explaing this. Thank you for explaing this.
What are your plans for fund raising and expanding your team for OpenWorld development?
Mr. TranDzung | OpenWorld: Thank you for this one
About our team
Currently we have 20 members (8 blockchain/smart contract dev), the team mainly bases in Vietnam.
The project and token are live in BSC and soon on Harmony, about 200 - 300 active gamers with our mini-game, 60K+ transactions in game, 1000+ NFT sold.
The mini-game CryptoWar will be discontinued on 6 June as part of the OpenWorld MVP launch.
About fund raising
We are looking for $500K in Series Seed at target valuation at $5M to build up the metaverse prototype
The prototype will include on-chain DeFi and GameFi features that we built: staking, bond, P2E PvP, and may have on-chain/off-chain structure (we are debating this, not quite sure if we have enough time to put this in prototype of this will come after the prototype)
After that we aim for $5M-$10M on Series A to build the actual metaverse in MMORPG style with a major focus on digital value creation and circular economy.
For the next 6-9 months, we focus on the Seed round, build up all-star team, and build up prototype.
The recruitment will need: 1 Chief Product Officer (Game Director), 2-3 Senior Game Dev, 2-3 Artist (including 1 Art/Creative Director).
We also need to build up our Advisor Board. The fields of Advisors we target is: 1 PE/VC, 1 Blockchain (Hopefully one from Harmony), 1 Game (Management - Background in MMORPG), 1 Game Tech, 1 Blockchain Tech.
I mean we have good concept to make OpenWorld really sustainable and now are on the way to bring it to you.
Ms. Weronika | Alpha Batem: Sounds great! Now, when we understand the project better let’s move to the questions asked by the community under our Twitter post.
Mr. TranDzung | OpenWorld: I am waiting for this 👍👍
Ms. Weronika | Alpha Batem: Question from @Matteo_badini35
Mr. TranDzung | OpenWorld: Great question!
First, let's discuss about reasons why people join crypto, invest into DeFi or whatever in crypto. They are hunting for money and lack of education about the cryptospace, products, risk management, etc.
Second, let's talk about DeFi. Honestly, the branch industry has something wrong inside.Because in order to pay for investors, where is the money comes from. You stake, get money, from what source. The latest fiasco last week proves that fact.
Regarding to OpenWorld, what we are building up is a sustainable one, at least it is what we aim at, and we have solid idea, concept to build it up.
In OpenWorld, there are many professions and people will explore the world, entertain, play, whatever, and they get something. To cash it out, they must sell it to other people in that world. If they want something, they must buy it from others.
It is what we call as a sound circular economy that is a key to succeed, not only in GameFi but also in Metaverse.
In long run, our project aim at connecting with other projects into OpenWorld so our digital world is opened for everyone
Ms. Weronika | Alpha Batem: Nice! Let's move to the next question.
Question from @Yannlace
Mr. TranDzung | OpenWorld: Good question that is somewhat related to above question.
Regarding to development, our team are working seriously even in weekend.
Our team plan is building real good products with good value for people, investors, etc.
Regarding to the most challenging thing in our project, as you can see, it is circular economy. Frankly our team is a very first team think of it and the only another team used that term is Sandbox team in GDC. But we don't only talk about it, we are designing it behind the scene. On top of that, we add arts, blockchain etc.
Remember the key is circular economy.
For example in OpenWorld, initially we will have 3 professions (but more in later versions):
Let’s go through 3 professions graphically
They are part of the circular economy.
In order to work and explore the world, they must buy some items. Such as Openers buy something from Blacksmith, and Blacksmith use money to buy something from Supplier, and next Supplier buy Fish or something from Openers.
That is sound circular economy
In addition, OpenWorld has Buy back and Burn from two main mechanisms
Profit from our AI Trading bot
So far, we bought back and burned more than 900k $OPEN that is ~ 1% of total supply. Consequently, $OPEN is deflationary. Regarding to AI Trading bot profit that is used for Buy back and burn, we have regular report for community like this
AI Trading Bot (part of OPEN DAO)'s profit used for buy back and burn
Furthermore, when the MVP is launch, more people join, it will makes it more deflationary because more with more tax fee, we can increase the buy back and burn rate
Ms. Weronika | Alpha Batem: Amazing! This will be the last question from our Twitter community.
Question from @mmysunny
Mr. TranDzung | OpenWorld: Very good question, I like it!
You can not make a project goes up forever. You can not attract new users, new investors forever. Never can do that.
So if a product is not good, most important in terms of finance model behind it, it will be broken someday when momentum is gone.
Marketing can not help when hype, FOMO is gone, and the market sentiment is bearish, consequently death spiral will come.
About the current market, that is good if you know in bear market, hidden gems will have their chances to shine.
Years ago, back in 2018 Vitalik said the same and we all know that Ethereum was born in bear market
In 2020, the success of Axie Infinity proves it again because this project was founded years ago
So let's focus on concept first, other things must come later. A successful project is the one that can survive through bull and bear market and still maintain its price (if not grow more). Because such projects help investors have their capital safely.
OpenWorld is building up a sustainable project for safety of investor capital and prosperity!
One more thing, even in bear market, $OPEN holds strong, all time high is $0.1 and now it is fluctuating around $0.03
Ms. Weronika | Alpha Batem: Interesting. Thank you for sharing this with us! Now it’s your turn, guys!
I’ll unmute the chat again, and you can ask Thong questions about the OpenWorld to get a chance to win 2x $10 in $OPEN!
Mr. TranDzung | OpenWorld: Let's go everyone. I am waiting for your questions
Ms. Weronika | Alpha Batem: Thank you for your questions! Now, Thong will answer 2 of them and the winner will get $10 in $OPEN. Please wait patiently for his answers.
Mr. TranDzung | OpenWorld: A lot of questions, please give me a few mins
The first one from @Tatekei
What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
Our team approach is a bit different than others.
We build products first, marketing later.
In order to reach out to potential investors, we aim at educational initiatives.
Because many (or most) of people join crypto in a wrong way. They self-called themselves as investors but in fact they are speculators.
Fact is, you can not speculate the market, trend all times. So let's filter amongst hundreds of projects, and find potential hiddgen gems, then do due diligent research, and lastly, make your decision.
Fast comes fast goes, especially in crypto. So we would like to educate people as best as we can a long the way of our product development.
The second one is from @yaeko_chavis
I am interested to invest in your project. When and where can I buy your tokens? Is it already listed exchanges?
You can buy it on either Pancakeswap or Coinsbit.io exchange
Pancakeswap with 3 trading pairs
Coinsbit.io exchange: xBlade/USDT. They have yet updated token ticker for us from $xBlade to $OPEN). But the smart contract is the same, so you can buy it there, no worry.
What is slippage to use?
Let’s set slippage at 0.5% for buying, 1.5% to 2% for selling on Pancakeswap (because our team decided to lower tax fee to 1.5% weeks ago) or try auto slippage on PooCoin
In case everyone want to find out more about us, we invite you to
Lastly, $OPEN can be used to play games on some of our partner platform: Owl games, HyperJump, Sandboxcasino.io (link is available on Linktree)
If anyone want to know, it is our Burn address at which : ~900k $OPEN burned ~ 1% total supply
Ms. Weronika | Alpha Batem: Sounds good! Thank you very much for joining our AMA and thank you Thong for taking the time to introduce OpenWorld!
Mr. TranDzung | OpenWorld: Thanks for your time and everyone participation today
Ms. Weronika | Alpha Batem: We really appreciate your work. Good luck with the OpenWorld project!
Mr. TranDzung | OpenWorld: It’s my pleasure to be here.
Ms. Weronika | Alpha Batem: Written AMA recap will be provided soon, and it will be published on our Medium https://medium.com/@AlphaBatem.
Mr. TranDzung | OpenWorld: Nice. we will do the same on ours.
By the way, let's me announce that tomorrow we will have a 2nd AMA
this time, in OpenWorld Global Forum. See you tomorrow
Ms. Weronika | Alpha Batem: Join the AMA tomorrow fo find out more about AlphaBatem!
Mr. Scott | Alpha Batem: Thanks for everyone who attended:) looking forward to speaking to you all tomorrow